H&R Block is the largest branded tax preparation company in the U.S., providing services to individuals and small businesses. The company operates through two primary channels: assisted tax preparation and DIY software. In the assisted business, tax professionals complete returns at retail offices or virtually, focusing on clients with complex financial situations. The DIY channel provides online and desktop platforms for self-prepared filings, supplemented by AI tools and human review options. H&R Block generates revenue primarily through fees for return preparation, with additional income from franchise royalties. The business model is intensely seasonal, earning the majority of revenue and profit during the first half of the calendar year. H&R Block also offers ancillary financial products, including refund transfers, prepaid cards, and mobile banking services. Through Block Advisors and the Wave digital platform, the company provides bookkeeping, payroll, and payment processing for small businesses. Management’s strategy focuses on shifting from one-time tax filings to year-round advisory relationships. H&R Block uses AI to automate manual tasks like data entry, allowing professionals to spend more time on client advice. The company also grows its company-owned retail footprint by systematically acquiring franchised locations.